Rama Steel Tubes to consider fundraising proposal of about Rs150cr on Feb 14

7 Feb 2022 , 01:31 PM

Rama Steel Tubes Ltd has informed that the meeting of the Board of Directors of the Company will be held on Monday, February 14, 2022, inter alia, to consider and approve the business related matters.

As per regulatory filing, the Board will consider the unaudited standalone and consolidated financial resulis of the Company for the quarter and nine months ended on December 31, 2021.

Further, the board will also consider the scheme of amalgamation of Lepakshi Tubes Private Limited (Company’s Wholly Owned Subsidiary) with the Company.

And, formulate a dividend policy and declaration of interim dividend for the financial year 2021-22.

The Board will consider the proposals for fund raising upto Rs150cr by way of issue of equity shares/ preference shares/ bonds/ debentures/ non-convertible debt instruments/equity shares/ warrants/ any other securities, including through preferential issue on a private placement basis, qualified institutional placement rights issue or any other methods or combination thereof.

The Company has reported very positive financial performance in last quarter and investors are hopeful for the positive output from this quarter as well.

At around 1:31 PM, Rama Steel Tubes was trading at Rs348.95 apiece higher by 0.30% on Sensex.